The diagnostic radioisotopes market involves production and distribution of radioactive materials or isotopes which are used for diagnosis of various medical conditions. These radioisotopes are mainly used in positron emission tomography or PET scans and single-photon emission computed tomography or SPECT scans to capture images of organs and tissues in the body. Common diagnostic radioisotopes used include technetium-99m, thallium-201, iodine-123 and fluorine-18. They emit gamma rays or positrons which can be traced by scintillation detectors to provide information about metabolic activity in tissues and organs. Diagnostic radioisotopes play a vital role in detecting and diagnosing cancer, heart diseases, neurological disorders and other conditions. The global demand for diagnostic procedures using nuclear imaging techniques is increasing rapidly owing to growing geriatric population and rising cancer prevalence worldwide.
The Global diagnostic radioisotopes Market is estimated to be valued at US$ 6.54 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the diagnostic radioisotopes market are Johnson & Johnson, GE Healthcare, Cardinal Health, IBA Molecular Imaging, NTP Radioisotopes and Eckert & Ziegler.
The Diagnostic Radioisotopes Market Size growing demand for nuclear medicine diagnostic procedures such as PET and SPECT scans across the globe is driving significant growth in the market. According to estimates, the annual worldwide market for diagnostic radiopharmaceuticals is projected to grow from over 400,000 scans to more than 800,000 scans by 2030.
Rising geriatric population prone to chronic diseases and increasing investments by key players to expand production and supply of radioisotopes across different geographies are fueling the global expansion of the diagnostic radioisotopes industry. Players are engaged in strategic collaborations with international partners to strengthen supply chains and better serve diverse regional needs.
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